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Outlook for Mining in Alaska

Outlook for Mining in Alaska. Global Markets Alaskan Issues Resource Potential. Global Consolidation & Change. Capital Markets Are Very Tight Junior Capital Market is Dismal Management Focused on Return on Capital 40% of Top Mining Companies Have Disappeared in the Past 5 Years.

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Outlook for Mining in Alaska

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  1. Outlook for Miningin Alaska

  2. Global Markets • Alaskan Issues • Resource Potential

  3. Global Consolidation & Change • Capital Markets Are Very Tight • Junior Capital Market is Dismal • Management Focused on Return on Capital • 40% of Top Mining Companies Have Disappeared in the Past 5 Years

  4. Average Annual Copper Prices(Cents per Pound)

  5. Annual Average Zinc Prices(Cents per pound)

  6. Average Annual Gold Prices(Dollars per troy ounce)

  7. Western World Zinc Consumption Thou Metric Tonnes Trend Growth 1980-2000 2.5%/yr Source: ILZSG, Teck Cominco

  8. ZINC REFINING CAPACITY 33% 7% 13% 8% 11% 9% 2% 4% 2% 5% 6% Total World Capacity 9,300,000mt Source: Teck Cominco

  9. Restraints to Mining in Alaska • Land Status Issues • Environmental Regulations that are “Urban Oriented” • Pre-feasibility Costs • Transportation & Utility Costs

  10. Dealing With Restraints • Native Lands • State Lands, Mining Laws & Taxation • Effective DEC Committed to Finding Solutions • AIDEA & Positive State Attitude

  11. Alaskan Mine Producers • Healy (Usibelli) Coal • Green’s Creek Silver/Zinc/+ • Red Dog Zinc/Lead • Fort Knox Gold

  12. Known Big Deposits • Beluga Coal • Red Dog District Zinc/Lead • Pogo Gold • Donlin Creek Gold • Pebble Copper • Ambler District Copper/+

  13. Gold from Gravels • Placer industry has contracted enormously in past 20 years • Outlook is poor considering environmental and market conditions • Historical placer districts are good places to look for big, hard rock gold deposits

  14. Do Not Forget Gravelis Mined Too

  15. Exploration • Food for Future Industry • Greatly Reduced in 2002 • Unlikely to Rebound Completely to Historical Levels

  16. Long Term • New Big Discoveries • New Commodities: Platinum, Palladium, Gemstones, Tin, Others • New Technology Especially Related To Local Power Generation and Producing Metals from Concentrate

  17. Conclusions • Excellent Producing Mines Insure Industry for 30 or More Years • Very Little New Activity in 2002 • Long Term Metal Trends Are Not Favorable • Unlikely to Rebound Completely to Historical Levels

  18. Paul Glavinovich (Anchorage) Steve Borell (AMA) Neil Seldon (Vancouver) Charlotte MacCay (TeckCominco) Andy Roebuck (TeckCominco) Jason Brune (RDC) & Others Thanks To...

  19. Annual Average LEAD Prices(cents/pound)

  20. Average Annual Silver Prices($ Per Troy Ounce)

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